Business Controls Assurance

Review Corporate policies and procedures and its compliance assurance;

Issues with the system of internal controls including company level controls, business process controls and application controls;

Issues in implementation of business processes and controls;

Assessment and comparison of business processes and controls in different business units and companies.

Management controls testing including development of testing plan, testing and result documentation;

Independent quality review of business processes and controls including walkthrough, evaluation of control design and operating effectiveness;

Internal controls diagnostics;

Internal and external benchmarking of business processes and controls.

Case

Management testing for SoX, J-SoX, Euro-SoX, etc

For companies working under SoX, J-SoX, Euro-SoX regulation, we propose to perform management testing, including:

Business processes and controls walkthroughs;

Evaluation of control design;

Preparation of control testing plans;

Operating effectiveness testing of controls and documentation of results;

Remediation plan recommendations.

Business processes and controls assessment

For companies unsure whether their business process controls are operating effectively, and whether all policies and procedures are consistently enforced throughout all business units, we propose an independent assessment of the business process control environment as follows:

Analysis of the policies, procedures, and business process documentation established by the client existed in the Company and whether they are up-to-date;

Business processes walkthroughs and control design effectiveness procedures;

Operating effectiveness testing of business process controls and documentation of results;

Segregation of duties analyses.

As required by management, our procedures may also include benchmarking based on internal and external best practices and competitive standards.

Business processes and control diagnostics

For companies with preidentified business process and control issues, we are also able to evaluate the root cause(s). For companies currently planning an IPO, we can provide a diagnostic of the current corporate governance and business process control environment currently established. Such a diagnostic, would provide an overview of the company’s business processes and control environment, identifying gaps, and recommendations for improvement.

Our Diagnostic procedures includes the evaluation of the following factors:

Organizational structure, assignment of roles and responsibilities;

Policies, procedures, instructions and etc.

Company level controls;

Significant business processes and documents workflow;

Information technology and IT general controls;

Spreadsheets.

Diagnostics results are summarized in a report that includes business process and control gaps, and recommendations for improvement.

Value

Management of the company would like to have clear understanding of its business processes and internal control effectiveness, and that corporate policies and procedures are followed.

PwC Risk Assurance Solution helps its client by providing independent view on the effectiveness of its business processes and control environment.